Zacks Investment Research upgraded shares of Getty Realty Corporation (NYSE:GTY) from a hold rating to a buy rating in a research report sent to investors on Tuesday, October 17th. They currently have $33.00 price target on the real estate investment trust’s stock.
According to Zacks, “Getty Realty Corp. is a real estate investment trust engaged in the ownership, leasing and financing of retail motor fuel and convenience store properties and petroleum distribution terminals in the United States. The company’s properties are leased or sublet to distributors and retailers engaged in the sale of gasoline and various motor fuel products, convenience store products, and automotive repair services. Getty’s properties are operated under a variety of brands including Getty, BP, Exxon, Mobil, Shell, Chevron, Valero, Fina and Aloha. It is also a marketer of heating oil in Pennsylvania and Maryland. Getty Realty Corp. is headquartered in Jericho, New York. “
A number of other brokerages have also recently weighed in on GTY. Bank of America Corporation began coverage on Getty Realty Corporation in a research report on Wednesday, September 6th. They issued a buy rating and a $30.00 price target on the stock. ValuEngine upgraded Getty Realty Corporation from a hold rating to a buy rating in a report on Friday, September 1st. BidaskClub upgraded Getty Realty Corporation from a hold rating to a buy rating in a report on Wednesday, August 2nd. Finally, Canaccord Genuity began coverage on Getty Realty Corporation in a report on Tuesday, July 18th. They set a buy rating and a $32.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $28.75.
Getty Realty Corporation (NYSE GTY) traded up 0.82% during midday trading on Tuesday, hitting $28.31. 62,445 shares of the stock were exchanged. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 23.42 and a beta of 0.55. Getty Realty Corporation has a 12-month low of $21.71 and a 12-month high of $29.89. The firm has a 50 day moving average of $28.90 and a 200-day moving average of $26.50.
Getty Realty Corporation (NYSE:GTY) last announced its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.21). Getty Realty Corporation had a net margin of 36.66% and a return on equity of 10.24%. The company had revenue of $29.50 million during the quarter, compared to the consensus estimate of $27.35 million. During the same quarter last year, the company earned $0.47 earnings per share. The business’s revenue was up 3.5% on a year-over-year basis. On average, equities analysts expect that Getty Realty Corporation will post $1.30 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 21st will be issued a $0.32 dividend. This is a boost from Getty Realty Corporation’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $1.28 annualized dividend and a yield of 4.56%. Getty Realty Corporation’s dividend payout ratio (DPR) is currently 94.12%.
Institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its holdings in Getty Realty Corporation by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 5,330 shares of the real estate investment trust’s stock valued at $133,000 after acquiring an additional 2,350 shares during the last quarter. Mason Street Advisors LLC boosted its holdings in Getty Realty Corporation by 9.0% in the first quarter. Mason Street Advisors LLC now owns 6,306 shares of the real estate investment trust’s stock valued at $159,000 after acquiring an additional 521 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Getty Realty Corporation by 6.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,368 shares of the real estate investment trust’s stock valued at $160,000 after acquiring an additional 370 shares during the last quarter. Credit Agricole S A boosted its holdings in Getty Realty Corporation by 59.0% in the first quarter. Credit Agricole S A now owns 7,428 shares of the real estate investment trust’s stock valued at $188,000 after acquiring an additional 2,756 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its stake in Getty Realty Corporation by 2.4% in the second quarter. D.A. Davidson & CO. now owns 7,755 shares of the real estate investment trust’s stock valued at $194,000 after buying an additional 180 shares during the period. Institutional investors and hedge funds own 52.38% of the company’s stock.
Getty Realty Corporation Company Profile
Getty Realty Corp. is a real estate investment trust (REIT). The Company specializes in the ownership, leasing and financing of convenience store and gasoline station properties. As of June 30, 2017, the Company’s 825 properties were located in 26 states across the United States and Washington, District of Columbia.
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